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This paper focuses on agency theory to explain investment behavior difference between private domestic and foreign in …
Persistent link: https://www.econbiz.de/10015213879
Supply chain strategy is one of the main prerogatives of a corporate board. How does corporate board diversity affect buyer-supplier relationships? Following a requirement for California firms to increase board gender diversity, affected buyers consolidated their supply base by reducing...
Persistent link: https://www.econbiz.de/10015214538
A residual-income model, named Systemic Value Added (SVA), is proposed for decision-making purposes, based on a systemic approach introduced in Magni (2000, 2003, 2004). The model translates the notion of residual income (excess profit) giving formal expression to a counterfactual alternative...
Persistent link: https://www.econbiz.de/10015214925
We show that project evaluation should be based on free cash flows at nominal prices. We present a case where the results from the constant price method are biased upwards and there is a risk to accept bad projects. It is a widespread practice to evaluate projects at constant prices. With an...
Persistent link: https://www.econbiz.de/10015215138
This paper defines economic value added as an instrument of the efficiency’s evaluation in the Czech capital market. EVA is a new evaluation criterion of efficiency in the Czech Republic and in practice it is not much applied in the Czech companies. EVA is just used for big companies. Typical...
Persistent link: https://www.econbiz.de/10015215182
We model pre-investment R&D decisions in the presence of spillover effects in an option pricing framework with analytic tractability. Two firms face two decisions that are solved for interdependently in a two-stage game. The first-stage decision is: what is the optimal level of coordination...
Persistent link: https://www.econbiz.de/10015215224
The submitted paper is intended to revolutionize the handling methods of credit sheets and the means of collecting budgetary incomes, on one hand, and to allow operators to verify in real time the happening and recording of an economical phenomenon in the area of credit ordination through the...
Persistent link: https://www.econbiz.de/10015215346
The priorities of the EU budget for 2009 are: economic growth, employment, climate, strengthening security and safety of European citizens, the social dimension of the EU. Divided into areas, the EU provides for sustainable development, regional education and research 45.9 billion for natural...
Persistent link: https://www.econbiz.de/10015215391
In the context in which most countries in Western Europe is almost unanimously accepted advantage of using the single currency, it appreciates that for Romania, whose foreign trade is facing up to approximately 2 / 3 to the market, adopting the single currency will bring real benefits. To become...
Persistent link: https://www.econbiz.de/10015215599
and calculation of intrinsic values. A most recent theory, the systemic-value-added approach (also named lost …-capital paradigm), provides a dierent denition of residual income, consistent with arbitrage theory. En- folded in Keynes's (1936 …) notion of user cost and forerun by Pressacco and Stucchi (1997), the theory has been formally introduced in Magni (2000a …
Persistent link: https://www.econbiz.de/10015215738